Business
Rainbow Resources Announces Completion of Tin City Acquisition
(via Thenewswire.ca) Mr. David W. Johnston reports: TORONTO, ONTARIO - (December 17, 2...
About this update from Canadian Critical Minerals Inc
[{"type":"text","content":"Rainbow Resources Announces Completion of Tin City Acquisition(via Thenewswire.ca)\n \n \nMr. David W. Johnston reports:\n\n\n \nTORONTO, ONTARIO - (December 17, 2013) Rainbow Resources Inc. ('Rainbow' or 'the Company') (TSX VENTURE:RBW)(OTC:RIINF) announces that it has completed the acquisition of the Tin City Property by submitting the final option payment of $6,000 to the former owners of the Tin City claims adjacent to its high-grade lead/silver International Property in the West Kootenays, BC. The claims comprise a total of 820 hectares and their location can be viewed in Figure 1 below.\n\n\n \nFigure 1 - Property Location Map\n\n\n \n \n\n\nClick Image To View Full Size\n\n\n\n \n \nThe Tin City agreement, dated July 11, 2011, was originally made with Braveheart Resources Canada Inc. (acquired by Rainbow in October, 2011). The agreement was amended on July 31, 2013. Highlights of the agreement were as follows:\n\n\n \n\n\n?.Cash payments totalling $30,000 during the period July 1, 2011 to December 1, 2013; \n\n\n\n?.A total of 225,000 Rainbow common shares during the period July 1, 2011 to November 1, 2013; \n\n\n\n?.A 2% NSR payable upon the initiation of commercial production on the property and, \n\n\n\n?.Rainbow has the option of reducing the NSR to 1% by making a $500,000 cash payment to the former owners. \n\n\n\n\n \nAbout Rainbow Resources: \n\n\n \nRainbow is a Canadian based junior exploration company focused on building shareholder value through aggressive exploration in two favourable and proven mining jurisdictions - the West Kootenays in southeast British Columbia (silver, gold and flake graphite), and Nevada where Rainbow's Jewel Ridge gold-silver project is in the heart of a major producing district. Rainbow's shares are listed on the TSX Venture Exchange under the symbol TSX-V:RBW and on the OTC under the symbol RIINF. \n\n\n \nRainbow currently has 47,820,052 common shares issued and outstanding.\n\n\n \nContact:\n\n\n \nRainbow Resources Inc.\nDavid W. Johnston\nPresident \n(403) 701-2781\[email protected]\n\n\n \nWebsite: www.RainbowResourcesRBW.com\nRainbow on Video: http://www.rainbowresourcesrbw.com/video/\n\n\n \nFollow Rainbow:\n\nTwitter: https://twitter.com/RainbowResource\nFacebook: https://www.facebook.com/RainbowResources\n\n\n \n Caution Regarding Forward-Looking Information \n\n...